Make your short-term insurance premiums work harder for you

In a tough economy, it’s good to know that you can make your car and home insurance work harder for you and enjoy a financial reward when you don’t claim.

Hollard offers three different no-claim rewards (NCR) which pay you back in hard cash if your remain claim-free for the specified insurance period.  These three no-claim rewards – a General NCR, a Home contents NCR and a Buildings NCR – run independent of each other so if you do have to claim on one section of your policy, it won’t necessarily affect your NCR on any of the others.

“Hollard’s General NCR applies to most of the cover sections included in the Hollard Car and Home policy, such as cars, motorbikes, portable possessions, watercraft, general personal accident, legal and identity theft, but excludes buildings and home contents which are covered under separate NCRs,” explains Deanne van Doesburgh from Hollard.

Under Hollard’s General NCR you qualify for 10% of your premiums back after the first 36 claim-free months.  If you remain claim-free for a further 36 months, you qualify for a further 20% of your premiums back for that period, where it will remain at 20% for every 36-month no-claim period following that.

There are certain benefits and services that you can claim for that will not affect your no-claim reward, which include:

• Repairing your windscreen (no replacement), scratch & dent cover or tyre cover, under your cars cover section.
• Hole-in-one benefit, assistance for runners and cyclists, emergency medical assistance, roadside emergency medical stabilisation and transportation, and inter-hospital transfers and medical repatriation on your sporting bundle cover, under the portable possessions cover section.
• Any claim under the legal or identity theft cover sections, except for the legal costs benefit.
• Any emergency and assist services.

The Home Contents NCR pays back 10% of your home contents premiums for every 24-month period that you remain claim-free, and is subject to you also having comprehensive cover for your car on the same policy.

Hollard’s Buildings NCR provides an exceptional 100% of your buildings premiums back for every 72-month period that you remain claim-free, as long as you have comprehensive car, home contents and buildings insurance on your Hollard policy.  Again, unlike other cash-back rewards in the market, your Buildings NCR will not be affected if you claim under any of the other cover sections on your policy besides for buildings, which increases your chances of receiving ALL your buildings premiums back every 72 months.

Insurance protects you from risks that have the potential to ruin you financially and is an integral part of your financial planning.  However, it’s good to know that you can also make the money spent on premiums work harder for you by being vigilant and responsible about the potential risks you are exposed to.  If you are responsible (and lucky!) and have no claims, you can enjoy the rewards in a cash refund. The best part is that each individual NCR operates independently from each other, so if you do submit a claim under one, it won’t affect the other NCRs.  “To add the final cherry on top, by consolidating all your building, car and home contents insurance with Hollard under one policy, not only can you look forward to three individual NCRs, but you’re also likely to get a cheaper insurance premium too,” concludes Deanne.